Trump once revealed his income tax returns. They showed he didn’t pay a cent.

Discussion in 'Politics' started by Crabtownboy, May 24, 2016.

  1. Crabtownboy

    Crabtownboy
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    From: https://www.washingtonpost.com/poli...a2f63c-1b7c-11e6-b6e0-c53b7ef63b45_story.html

    The last time information from Donald Trump’s income-tax returns was made public, the bottom line was striking: He had paid the federal government $0 in income taxes.

    The disclosure, in a 1981 report by New Jersey gambling regulators, revealed that the wealthy Manhattan investor had for at least two years in the late 1970s taken advantage of a tax-code provision popular with developers that allowed him to report negative income.

    Today, as the presumptive Republican presidential nominee, Trump regularly denounces corporate executives for using loopholes and “false deductions” to “get away with murder” when it comes to avoiding taxes.

    “They make a fortune. They pay no tax,” Trump said last year on CBS. “It’s ridiculous, okay?”
     
  2. Rolfe

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    1981. *laugh*
     
  3. carpro

    carpro
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  4. Rolfe

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    Or he is trying to hide something...
     
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  5. carpro

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    So he released a return and "he's trying to hide something"? He doesn't release his returns and "he's trying to hid something."

    Sounds like the way to go is not release his returns if he's going to be accused of "hiding something" either way. Why bother?
     
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  6. Rolfe

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    1981...
     
  7. carpro

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    So?
     
  8. Squire Robertsson

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    Anybody with his wealth that pays personal income taxes hired the wrong accountants and lawyers.
     
  9. Crabtownboy

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    Rather hypocritical of him to scream about the miserable business men who are rich and end up paying no taxes. Right?

    Why allow the rich loop holes that you and I cannot use?
     
  10. carpro

    carpro
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    Yep. So what? Politicians are hypocrites, but not all of them are serial liars and criminals who play fast and loose with national security and abandon our representatives to be murdered...like Hillary. Then say "what difference does it make".
     
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  11. 777

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    If losses are less than profits, it's negative income. THIS is all those "reporters", all 20 of them, over at WaPo can dig up? I was born in late 1979 but I still find it hard to believe that Trump was doing this badly under the great President Jimmuh Carter - and he had both houses of Congress. Must be an anomaly.

    OTOH, Hillary was wiping the floor in the futures market:

    https://en.wikipedia.org/wiki/Hillary_Rodham_cattle_futures_controversy

    far more interesting than the Trump story but probably not to WaPo.
     
  12. InTheLight

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    You might want to rethink that. If losses are less than profits.....you are profitable, and you have income.
     
  13. Alcott

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    Yep. Just like it's hypocritical of celebrities like Barbra Streisand and Kim Kardashian to talk about the importance of environmentalism and water their posh Beverly Hills estates while the peons are fined for violating water restrictions.

    "Allow?" Which party has controlled Congress for the preeminent part of the last century since the income tax amendment to the constitution was RATified, and thus allowed such loopholes?
     
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  14. Salty

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    When you say no taxes - I assume you mean INCOME TAX. He probably pays more in sales tax than many people even make. Then there is property tax........
     
  15. Crabtownboy

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    ]


    Well, Trump
    Yes income tax. But isn't it rather hypocritical to use every loophole possible while, now in a campaign, to bitterly criticize others for doing the same thing? As I remember it he used rather derogatory language about them.
     
  16. church mouse guy

    church mouse guy
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    All you have shown me so far is that underneath that orange hair, Trump could be a liberal Democrat. AlienAlienAlien
     
  17. Salty

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    Did he say that loopholes are wrong - or did he say using loopholes are wrong? Big difference.

    Bottom line - initiate the Automatic Electronic tax - and presto -- no loopholes everyone pays the same %
     
  18. Aaron

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    And FICA
     
  19. InTheLight

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    Trump pays no more FICA than anyone else that makes over $118,500. That's a lot of people.

    Sent from my Motorola Droid Turbo.
     
  20. Salty

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    Well, that's over 8,000 + the 8 grand his company kicks in.
     

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